Guideline Value for Lakshmana Perumal Extension

Lakshmana Perumal Extension guideline value

The current guideline value of Lakshmana Perumal Extension is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is part of Kottivakkam village and falls under the Adayar SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Lakshmana Perumal Extension has changed

Over the years, the guideline value for Lakshmana Perumal Extension has seen several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. The 2023 revision then increased the value to Rs 3,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,900 per sq.ft. It is important to note that the register has no figures for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows an increase of 11%.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with 2024 guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Lakshmana Perumal Extension.

• Lakshmana Perumal Kalyani Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Kalyani Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Krishnan Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Lakshmana Perumal Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshmana Perumal Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost for these fees Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Lakshmana Perumal Extension?

The Lakshmana Perumal Extension is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kottivakkam

The guideline value plays a crucial role in the registration process for property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This value is essential for both buyers and sellers to understand, as it directly impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Lakshmana Perumal Extension?

The current guideline value for Lakshmana Perumal Extension is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 3,500 to Rs 2,345 in 2017, then back to Rs 3,500 in 2023, and finally to Rs 3,900 in 2024.

What is the land classification for Lakshmana Perumal Extension?

The land classification for Lakshmana Perumal Extension is Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

Which office handles property registrations in Lakshmana Perumal Extension?

The Adayar Sub Registrar Office handles property registrations for Lakshmana Perumal Extension, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.